Amer Sports (NYSE:AS) Releases FY 2024 Earnings Guidance

Amer Sports (NYSE:AS) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.430-0.450 for the period, compared to the consensus EPS estimate of 0.410. The company issued revenue guidance of $5.1 billion-$5.1 billion, compared to the consensus revenue estimate of $5.1 billion. Amer Sports also updated its FY24 guidance to $0.43-0.45 EPS.

Amer Sports Stock Up 1.3 %

AS stock opened at $20.94 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.81 and a current ratio of 1.87. The company has a 50-day moving average of $17.57 and a two-hundred day moving average of $14.81. Amer Sports has a 52-week low of $10.11 and a 52-week high of $21.69.

Amer Sports (NYSE:AS) last released its earnings results on Tuesday, August 20th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. The firm had revenue of $993.80 million for the quarter, compared to analyst estimates of $947.59 million. Amer Sports had a negative return on equity of 0.63% and a negative net margin of 2.79%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities analysts anticipate that Amer Sports will post 0.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AS shares. TD Cowen boosted their target price on shares of Amer Sports from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group upped their price objective on shares of Amer Sports from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Wednesday. Wells Fargo & Company increased their target price on shares of Amer Sports from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday. The Goldman Sachs Group boosted their price target on Amer Sports from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. raised their price objective on Amer Sports from $19.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $21.43.

About Amer Sports

Amer Sports, Inc designs, manufactures, markets, distributes, and sells sports equipment, apparel, footwear, and accessories in Europe, the Middle East, Africa, the Americas, China, and the Asia Pacific. It operates through three segments: Technical Apparel, Outdoor Performance, and Ball & Racquet Sports.